Individual Tax Rate Schedules

Married Filing Jointly and Surviving Spouse

If taxable income is	The tax is
Not over $19,900	10% of taxable income
Over $19,900 but not over $81,050	$1,990.00 + 12% of excess over $19,900
Over $81,050 but not over $172,750	$9,328.00 + 22% of excess over $81,050
Over $172,750 but not over $329,850	$29,502.00 + 24% of excess over $172,750
Over $329,850 but not over $418,850	$67,206.00 + 32% of excess over $329,850
Over $418,850 but not over $628,300	$95,686.00 + 35% of excess over $418,850
Over $628,300	$168,993.50 + 37% of excess over $628,300

Married Filing Separately

If taxable income is	The tax is
Not over $9,950	10% of taxable income
Over $9,950 but not over $40,525	$995.00 + 12% of excess over $9,950
Over $40,525 but not over $86,375	$4,664.00 + 22% of excess over $40,525
Over $86,375 but not over $164,925	$14,751.00 + 24% of excess over $86,375
Over $164,925 but not over $209,425	$33,603.00 + 32% of excess over $164,925
Over $209,425 but not over $314,150	$47,843.00 + 35% of excess over $209,425
Over $314,150	$84,496.75 + 37% of excess over $314,150

Head of Household

If taxable income is	The tax is
Not over $14,200	10% of taxable income
Over $14,200 but not over $54,200	$1,420.00 + 12% of excess over $14,200
Over $54,200 but not over $86,350	$6,220.00 + 22% of excess over $54,200
Over $86,350 but not over $164,900	$13,293.00 + 24% of excess over $86,350
Over $164,900 but not over $209,400	$32,145.00 + 32% of excess over $164,900
Over $209,400 but not over $523,600	$46,385.00 + 35% of excess over $209,400
Over $523,600	$156,355.00 + 37% of excess over $523,600

Single

If taxable income is	The tax is
Not over $9,950	10% of taxable income
Over $9,950 but not over $40,525	$995.00 + 12% of excess over $9,950
Over $40,525 but not over $86,375	$4,664.00 + 22% of excess over $40,525
Over $86,375 but not over $164,925	$14,751.00 + 24% of excess over $86,375
Over $164,925 but not over $209,450	$33,603.00 + 32% of excess over $164,925
Over $209,450 but not over $523,600	$47,843.00 + 35% of excess over $209,425
Over $523,600	$157,804.25 + 37% of excess over $523,600

Standard Deductions

Married filing jointly and surviving spouses - $25,100

Married filing separately - $12,550

Head of household - $18,800

Single - $12,550

Mrs. Cora Yank (age 42) is divorced and has full custody of her 10-year-old son, William. . Mrs. Yank works as a medical technician in a Chicago hospital. Her salary was $38,400, from which her employer withheld $1,045 federal income tax and $2,938 employee FICA tax. Several years ago, Mrs. Yank was seriously injured in a traffic accident caused by another driver's negligence. This year, she received a $25,000 settlement from the driver's insurance company: $20,000 as compensation for her physical injuries and $5,000 for lost wages during her convalescent period. Because she was unable to work for the first seven weeks of the year, she collected $1,400 unemployment compensation from the state of Illinois. Mrs. Yank earned $629 interest on a savings account. She contributed $800 to a traditional IRA. She is not an active participant in any other qualified retirement plan. Mrs. Yank paid $10,800 rent on the apartment in which she and William live. She received $1,600 alimony and $2,350 child support from her former husband under a divorce agreement executed in 2013. Mrs. Yank is covered under her employer's medical reimbursement plan. However, this year's medical bills exceeded her reimbursement limit by $1,630. Mrs. Yank paid $1,062 income tax to Illinois. Mrs. Yank spent $470 on hospital shoes and uniforms. Her employer didn't reimburse her for this expense. Mrs. Yank paid $1,300 for after-school child care for William. Required: From the above information, compute Mrs. Yank's 2021 federal income tax (including any AMT) and the amount due with her Form 1040 or the refund she should receive Assume the tax year is 2021. Use Individual tax rate schedules and Standard deduction table (Round all your intermediate calculations and final answers to the nearest whole dollar amount. Leave no cells blank - be sure to enter "0" wherever required.) Answer is complete but not entirely correct. Adjusted gross income (AGI) Taxable income Mrs. Yank's regular income tax AMT Mrs. Yank's total tax ability (including AMT) Refund Amount $ 46.2293 27,597 2.4293 46.2293 0 271 Mrs. Cora Yank (age 42) is divorced and has full custody of her 10-year-old son, William. . Mrs. Yank works as a medical technician in a Chicago hospital. Her salary was $38,400, from which her employer withheld $1,045 federal income tax and $2,938 employee FICA tax. Several years ago, Mrs. Yank was seriously injured in a traffic accident caused by another driver's negligence. This year, she received a $25,000 settlement from the driver's insurance company: $20,000 as compensation for her physical injuries and $5,000 for lost wages during her convalescent period. Because she was unable to work for the first seven weeks of the year, she collected $1,400 unemployment compensation from the state of Illinois. Mrs. Yank earned $629 interest on a savings account. She contributed $800 to a traditional IRA. She is not an active participant in any other qualified retirement plan. Mrs. Yank paid $10,800 rent on the apartment in which she and William live. She received $1,600 alimony and $2,350 child support from her former husband under a divorce agreement executed in 2013. Mrs. Yank is covered under her employer's medical reimbursement plan. However, this year's medical bills exceeded her reimbursement limit by $1,630. Mrs. Yank paid $1,062 income tax to Illinois. Mrs. Yank spent $470 on hospital shoes and uniforms. Her employer didn't reimburse her for this expense. Mrs. Yank paid $1,300 for after-school child care for William. Required: From the above information, compute Mrs. Yank's 2021 federal income tax (including any AMT) and the amount due with her Form 1040 or the refund she should receive Assume the tax year is 2021. Use Individual tax rate schedules and Standard deduction table (Round all your intermediate calculations and final answers to the nearest whole dollar amount. Leave no cells blank - be sure to enter "0" wherever required.) Answer is complete but not entirely correct. Adjusted gross income (AGI) Taxable income Mrs. Yank's regular income tax AMT Mrs. Yank's total tax ability (including AMT) Refund Amount $ 46.2293 27,597 2.4293 46.2293 0 271